Consumers in India are increasingly viewing gold as both a symbol of adornment and an investment option, leading to changes in gold consumption trends.
Rising sales of gold bars and coins pose challenges for jewellers in maintaining topline growth and margins.
Titan, a leading gold retailer, reported significant growth in plain gold jewellery sales and gold coin sales, highlighting the growing inclination of Indian consumers to invest in gold.
Senco Gold Ltd. also experienced robust results with a 23% YoY growth in retail operations and an 18.4% same-store sales growth, driven by strong wedding season demand.